Aircraft Insurers Brace for Deluge of Russia Claims, With Lloyds on Hot Seat
- Plane lessors angling for payouts as insurers cancel policies
- Lloyd’s said to lead on aviation coverage; brokers fear losses
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Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims.
Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims to come if the jets aren’t returned. Insurers, meanwhile, are canceling some policies, including for war risk, and may challenge claims on coverage still in force, industry participants say.